In a large mixing bowl, combine the softened cream cheese and crushed vanilla wafer cookies. Mix until well blended.
Add in the caramel ice cream topping and mix thoroughly.
Cover the bowl and refrigerate for about 30 minutes.
Form the mixture into balls about 1 inch in diameter and place on a baking sheet lined with parchment paper.
Freeze the balls for about 15-20 minutes.
Melt the semi-sweet baking chocolate in a microwave-safe bowl.
Dip each ball into the melted chocolate and allow excess to drip off.
Roll the coated balls in chopped pecans.
Refrigerate for at least 30 minutes to allow the chocolate to set.